Bank Resolution (Recapitalisation) Act 2025
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Change 1
4 Reimbursement in respect of recapitalisation payments
In Part 15 of the Financial Services and Markets Act 2000, after section 214G (as inserted by section 3 of this Act) insert— Reimbursement in respect of a recapitalisation payment 214H (1) The Bank must reimburse the scheme manager for any recapitalisation payment, or any part of a recapitalisation payment, relating to a financial institution, which is not needed to cover the costs and expenses mentioned in section 214E(2)(a) and (b) because— (a) those costs and expenses were lower than the Bank expected, or (b) the Bank recovers an amount in relation to the financial institution which it can use to defray those costs and expenses. (2) For the purposes of subsection (1)— (a) the reference to the Bank recovering an amount in relation to the financial institution includes recovering an amount as a result of the sale of the institution or the institution being wound up or otherwise; (b) where more than one recapitalisation payment is required in relation to a financial institution, references to a recapitalisation payment are to be read as references to the sum of those payments; (c) the reference to the sale of a financial institution in paragraph (a) is to the sale of all or part of the business of the financial institution as part of, or as a result of, the achievement of a stabilisation option.
4 Reimbursement in respect of recapitalisation payments
In Part 15 of the Financial Services and Markets Act 2000, after section 214G (as inserted by section 3 of this Act) insert— Reimbursement in respect of a recapitalisation payment 214H (1) The Bank must reimburse the scheme manager for any recapitalisation payment, or any part of a recapitalisation payment, relating to a financial institution, which is not needed to cover the costs and expenses mentioned in section 214E(2)(a) and (b) because— (a) those costs and expenses were lower than the Bank expected, or (b) the Bank recovers an amount in relation to the financial institution which it can use to defray those costs and expenses. (2) For the purposes of subsection (1)— (a) the reference to the Bank recovering an amount in relation to the financial institution includes recovering an amount as a result of the sale of the institution or the institution being wound up or otherwise; (b) where more than one recapitalisation payment is required in relation to a financial institution, references to a recapitalisation payment are to be read as references to the sum of those payments; (c) the reference to the sale of a financial institution in paragraph (a) is to the sale of all or part of the business of the financial institution as part of, or as a result of, the achievement of a stabilisation option.
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